HomeMinnesotaHennepin CountyRichfield
Richfield, Minnesota: commercial real estate data.
Richfield is a Census city of 36,642 people across 6.78 square miles of land, in Hennepin County. Median household income is $85,132, 61.6 percent of occupied homes are owned, and the SBA record carries 11 7(a) approvals to borrowers here worth $2.9 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Richfield
What Richfield is
- Census place typecity
- Land area6.78 sq mi
- Water area0.14 sq mi
- Population per square mile of land5,406
- County holding the largest share of its areaHennepin County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Richfield
How many people live in Richfield
- Population36,642
- Median age39.4
- Population under 186,681
- Share under 1818.2 percent
- Population 65 and over6,995
- Share 65 and over19.1 percent
- Households16,547
- Family households9,588
- Share of households that are families57.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Richfield
Income and work in Richfield
- Median household income$85,132
- Per capita income$47,856
- Civilian labor force21,571
- Employed20,421
- Unemployed1,150 plus or minus 319
- Unemployment rate5.3 percent plus or minus 1.5
- Adults 25 and over27,304
- Adults 25 and over with a high school diploma or higher91.3 percent
- Adults 25 and over with a bachelor degree or higher43.7 percent
- Adults 25 and over with a graduate degree12.5 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Richfield
Housing in Richfield
- Housing units17,183
- Occupied units16,547
- Vacant units636 plus or minus 201
- Vacancy rate3.7 percent plus or minus 1.2
- Owner occupied10,186
- Renter occupied6,361
- Ownership rate61.6 percent
- Median owner-occupied home value$344,000
- Median gross rent, monthly$1,393
- Annual rent as a share of median income19.6 percent
- Single family units10,574
- Share single family61.5 percent
- Units in buildings of two or more6,578
- Share in buildings of two or more38.3 percent
- Mobile homes31 plus or minus 42
- Median year structure built1959
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Richfield
How Richfield gets to work
- Workers 16 and over who commute16,428
- Commuting under 15 minutes4,078
- Share commuting under 15 minutes24.8 percent
- Commuting 30 minutes or more4,308
- Share commuting 30 minutes or more26.2 percent
- Drove alone65.3 percent
- Carpooled6.8 percent plus or minus 1.6
- Public transport3.5 percent plus or minus 1.0
- Walked2.0 percent plus or minus 0.7
- Worked from home18.7 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Richfield
SBA loans in Richfield (7(a))
- Approvals11
- Gross approval$2,924,300
- Average approval$265,845
- Median approval$152,000
- Largest approval$871,000
- Jobs supported266
- Jobs per approval24.2
- Loans with a final outcome3
- Paid in full2
- Charged off1
- Median term120 months
- Share on real estate terms of 20 years or more0.0 percent
- Share to franchises27.3 percent
- Distinct lenders8
- Distinct industries by NAICS8
Counted by borrower city: approvals to borrowers whose address is in Richfield, in any county, FY2020 to FY2026. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Richfield
SBA loans in Richfield (504)
- Approvals12
- Gross approval$7,445,000
- Average approval$620,417
- Median approval$433,000
- Largest approval$1,862,000
- Jobs supported176
- Loans with a final outcome4
- Charged off0
- Median term270 months
- Distinct CDCs5
Counted by borrower city: approvals to borrowers whose address is in Richfield, in any county, FY2010 to FY2026. Only 4 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Richfield
Flood risk in Richfield
- NFIP communityCity of Richfield
- NFIP community number270180
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date11/04/16
The City of Richfield participates in the National Flood Insurance Program as community 270180 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Hennepin County, not Richfield
Hennepin County context, not Richfield figures
- Establishments in Hennepin County40,486
- Covered employment, Hennepin County917,117
- Average annual pay, Hennepin County$90,157
- Housing units permitted, Hennepin County3,919
Every figure in this section is published for Hennepin County as a whole and is not a measurement of Richfield.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
Richfield questions, answered from the record.
How many people live in Richfield, Minnesota?
36,642, in 16,547 households. Richfield city covers 6.78 square miles of land, which is 5,406 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Richfield in?
Hennepin County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Richfield?
$85,132. The median owner-occupied home is valued at $344,000. Median gross rent is $1,393 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Richfield businesses?
11 7(a) approvals totaling $2.9 m since FY2020, across 8 lenders, median approval $152,000, plus 12 504 approvals worth $7.4 m since FY2010. These count approvals to borrowers whose address is in Richfield, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Richfield borrowers get paid back?
No rate is published for Richfield. Only 3 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Richfield in the National Flood Insurance Program?
Yes. Richfield appears in the FEMA Community Status Book as Richfield, city of, community 270180, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Richfield figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Hennepin County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Richfield.
Is zoning published for Richfield?
No. Nothing on this page presents parcel level zoning.